Early retirement sounds ideal but is it always? Retire or not to retire with Roger Whitney, the retirement answer man.
Roger believes rather than setting retirement goals, we should set retirement priorities.
Not that you shouldn’t have goals. But when retirement is decades away, priorities are more flexible. The closer you get to retirement, the more you can concentrate on making concrete goals.
Roger believes you should decide what your ideal retirement would be, not what you think you can afford. This allows you to see what your priorities really are and you can work harder towards those and spend less energy on the things that are not as important to you.
Even if you retire at 65, you may still have twenty or more years of life ahead. You don’t want to get bored! Roger suggests crafting a life you don’t want to retire from. You don’t have to stay at your 9-5 but you don’t have to give up working for money forever either.
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But try out the life you don’t want to retire from before you retire! It’s a romantic notion to start your own farm and may help you make it through the crappy times at your job, but what if you don’t know anything about farming? Dip your toe into the life you think you want before you just dive right in.
We don’t think you need a financial advisor. You can figure all this stuff out on your own with some educating and research. But if you must, make sure you use a fiduciary. They are held to certain standards that those advising under the blanket term “financial planner” are not.
It’s never too early to start planning for retirement.
River Horse Hipp-O-Lantern: A carbonated pumpkin beer.
Roger Whitney: The retirement answer man.